The private sector plays a crucial role in driving the economy of any nation, and Fiji is no different, according to Filimoni Vosarogo, the Minister for Lands and Mineral Resources. At the recent Annual Business Forum hosted by the Nadi Chamber of Commerce and Industry at the Tanoa International Hotel, Vosarogo emphasized that sectors such as agriculture, minerals, and mining remain largely underutilized. He believes these industries have the potential to serve as strong economic catalysts in the future.
Highlighting the successful example of the Tuvatu Gold Mine in Sabeto, Vosarogo noted that the nearby villages benefit from a combined monthly economic boost of $75,000 due to employment opportunities provided by Lion One Metals Ltd, the mine’s operator. This income enables local communities to thrive and underlines the importance of such projects in enhancing economic resilience.
Furthermore, Vosarogo pointed out the need for economic diversification. He called attention to the vulnerability of relying solely on tourism, particularly in light of potential global disruptions akin to the recent pandemic. He stressed the importance of acting decisively to promote sustainable practices and responsible resource management, while ensuring the economy is more robust against external shocks.
In alignment with these sentiments, Dr. Ram Raju, president of the NCCI, echoed the necessity of private sector support for industrial growth and the primary industries. He advocated for meaningful discussions and immediate actions to boost national economic performance.
This dialogue among leaders underscores a hopeful and proactive approach to building a resilient economy in Fiji, one that explores and maximizes diverse opportunities while ensuring sustainable progress. There is a clear path forward that not only addresses current challenges but also paves the way for a more adaptable and prosperous future.
In summary, both Vosarogo and Raju highlight the critical need for Fiji to diversify its economic base, explore untapped resources, and engage the private sector to create a more resilient economy capable of withstanding future disruptions.
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